Tech Data achieves impressive growth for Q4 in Europe

Our parent company, Tech Data, increased European sales by almost 15 percent in the final three months of its fiscal year, which ended 31 January 2011. In local currency terms, the increase was an even more impressive, 25 percent.Total sales in Europe for the quarter were $4.34 billion – 61 percent of the company’s worldwide net sales of $7.1 billion. That figure was up 13.3 percent on the prior year and would have been approximately 6 percent higher if it had not been for the impact of the weakening of certain currencies against the US dollar. Sequentially, net sales for the fourth quarter increased 15.5 percent over Q3.

Foreign currency impact here was minimal. Tech Data’s operating income for the fourth quarter was $117.8 million, or 1.65 percent of net sales.

‘Our fourth quarter results marked a very strong finish to an outstanding year for Tech Data,’ stated Robert M. Dutkowsky, Tech Data’s chief executive officer. ‘A healthy technology spending environment combined with our superior execution and targeted investments in infrastructure, M&A and business processes, resulted in one of the best years in our company’s history. Our record-setting performance in fiscal year 2011 validates our strategy, reinforces the value we bring to our customer and vendor partners.’